Russians pulled $9.7 billion in investments from Cyprus in the last 2 years, and moved their wealth to ‘safer’ offshore banking in Luxembourg, Ireland, the Netherlands, and the British Virgin Islands.

By Greta Berlin Three years ago, the Free Gaza movement was wrapping up final preparations for a flotilla of eight ships to head out to Gaza, determined to break Israel’s illegal siege on 1.5 million Palestinians shut into an open-air prison. Most of us were already in Cyprus or Turkey or Greece, as we were [...]The post Shut In, Shut ...

Heads of Millennium BCP and Banco Espírito Santo separately urge Europe’s leaders to moderate their stance on the eurozone periphery

IMF says Cyprus at risk of even deeper recession Associated Press Copyright 2013 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Updated 8:38 am, Friday, May 17, 2013 WASHINGTON (AP) — The International Monetary Fund said Friday that substantial risks still loom for the Cypriot economy even after a multi-billion dollar international bailout aimed ...

A recent inquiry suggests that Cyprus isn't doing enough to combat money laundering, a precondition for obtaining a bailout package. The banks know little about their customers and are ill-equipped to identify suspicious transactions.